Polish Economy Expands at Impressive Rate

Poland’s economy grew a surprisingly robust 4.2% on the year in the third quarter, boosted by rising fixed investment and a weak currency that makes the country’s exports more competitive.

The growth rate was “impressive given that it came against a backdrop of escalating troubles in the euro zone,” said Neil Shearing, an economist at research firm Capital Economics.

The figure was above expectations, as 18 bank analysts had forecast a third-quarter expansion of 4.0% in a Dow Jones Newswire survey, and was close to the 4.3% growth seen in the second quarter. Economists widely expect Poland’s economy to slow next year.

Fixed investment rose 8.5% in the third quarter, up from a growth rate of 6.9% in the second quarter which was revised down from an initial reading of 7.8%. The third-quarter figure was well above expectations of a rise of 7.5%.

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